OpenTV Reports Third Quarter 2008 Results

Thursday, November 6th, 2008 
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SAN FRANCISCO, Calif. — OpenTV Corp. (NASDAQ: OPTV), a leading provider of advanced television and advanced advertising services, today announced financial results for its third quarter ended September 30, 2008.

For the quarter ended September 30, 2008, revenues were $26.9 million, an increase of 14% over revenues of $23.7 million for the third quarter of 2007. Royalties and licenses revenues increased 2% to $16.5 million. Services and other revenues increased 39% to $10.4 million. Adjusted EBITDA, before unusual items, was $3.7 million for the quarter ended September 30, 2008, compared to a loss of $3.3 million for the third quarter of 2007.

Digital Device Shipments in millions:

                 2004                    2005                    2006
        ----------------------- ----------------------- -----------------------
           Q1    Q2    Q3    Q4    Q1    Q2    Q3    Q4    Q1    Q2    Q3    Q4
        ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- ----- -----
Total    42.2  45.4  48.6  51.7  56.5  59.8  63.0  66.7  71.0  74.1  79.0  82.5
  PVR     0.6   0.7   0.9   1.0   1.2   1.3   1.4   1.5   1.9   2.2   2.5   2.8

                 2007                  2008
        ----------------------- -----------------
           Q1    Q2    Q3    Q4    Q1    Q2    Q3
        ----- ----- ----- ----- ----- ----- -----
Total    88.4  92.1  96.1 101.0 106.7 111.7 115.8
  PVR     3.1   3.5   4.0   4.5   5.3   5.7   6.3

Summary of Recent Announcements

The following is a summary of key press releases issued by the Company since its last earnings announcement:

  • OpenTV announced the acquisition or Ruzz TV, a provider of turnkey software solutions for television broadcasters. Ruzz TV’s key technology provides broadcasters with a platform that enables the optimization of broadcast play-out operations and the rapid deployment of highly flexible solutions across a broad range of operational areas. In addition, Ruzz is a leading developer of solutions that support content management and delivery across a wide range of platforms and formats.
  • OpenTV and Adobe Systems Inc. announced a partnership to integrate Adobe® Flash® Lite™ software onto OpenTV middleware, which will complement OpenTV’s standard execution environment and HTML offerings, further enhance Web browsing capabilities and strengthen the development of rich applications and user interfaces in a converging digital media world.
  • OpenTV and EventIS announced the introduction of an advanced video-on-demand solution for cable operators that will allow them to differentiate their service offerings through advanced features such as high-definition, start-over TV and catch-up TV. The OpenTV and EventIS solution has already been deployed at several major cable operators around the world, including Ziggo in the Netherlands, VOO in Belgium and StarHub in Singapore.

More: Earnings Release